Global Environmental Markets Report

A Global Environmental Complex

Global Environmental Markets Report

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ICE Carbon Index Futures

Highlights

  • As of July 30 the ICE Global Carbon Futures Index (USD Excess Return) had a level of 538.02
  • 258,015 lots traded across the North American Physical Environmental product suite. This is an all-time record for the month
  • Open interest (OI) across the North American Physical Environmental product suite reached a new all time record of 1,135,206 lots on July 28
  • 119,112 lots across the North American Physical Environmental product suite went to delivery this month. This is the largest monthly delivery of the year, and second all-time behind 165,719 lots delivered in December 2020
  • UKA set two records in July. OI hit 13,853 lots and total volume was over 20,000 lots

Carbon & Renewables

North America

  • CCA futures and options volume was 135,136 and 56,562 lots respectively
  • CCA options volume of 56,562 is a record for July and third largest monthly total all-time, behind March and April 2020
  • RGGI futures and options volume was 19,632 lots combined

Europe

  • EUA futures volume was 870,161 lots: 10% up on June.
  • EUA options did 360,737 lots: 30% higher than the previous month.
  • UKA futures traded 20,943 lots: a 37% increase. Open Interest reached 13,853 lots: a 67% increase against June.

Renewables

  • 32,536 REC and SREC futures lots traded, with 18,830 being PJM Tri RECs

Key Dates & Events

North America:

  • Contract Expiry and Deliveries - Option Expiry Aug 16th, Last Trade Day Aug 26th and Delivery Day Aug 31st
  • CCA Joint Auction #28 will occur on August 18th with 71.3 mil current and 8.3 mil advanced allowances for sale
  • RGGI Auction #53 will occur on September 8th with allowance quantities to be determined

Europe:

  • Contract Expiry and Deliveries - EUA Futures Expiry July 27th, Last Trade Day July 27th and Delivery Day July 30th
  • UKA Auctions will be held on July 14th and 28th. Please see here for volumes and how to participate.

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